NH Investment & Securities, Start Your Brokerage ISA with Namu... Giveaway Event

[Asia Economy Reporter Lee Seon-ae] NH Investment & Securities announced on the 10th that its mobile securities platform Namuh (NAMUH) will hold a subscription event for the brokerage-type Individual Savings Account (ISA), which allows customers to directly trade stocks and financial products and receive tax-exempt benefits, until the end of the year.

The ISA is a policy financial product introduced in March 2016 as part of the national wealth increase project, and its appeal as a tax-saving account has been enhanced through this year's tax reform. Previously, only those with income could subscribe, but from this year, anyone aged 19 or older can subscribe regardless of income, expanding the eligible beneficiaries who can receive tax benefits if they maintain the account for at least three years after subscription. Additionally, if the matured funds are converted into a pension account, additional tax credit benefits are provided.

Most importantly, according to the tax law amendment announced this year, from 2023, financial investment income exceeding 50 million KRW will be taxed at a rate of 20% (25% for the portion exceeding 300 million KRW in taxable income). However, capital gains from stock trading generated within the brokerage-type ISA are fully tax-exempt, which has increased investor interest in the brokerage-type ISA. Furthermore, when trading individual stocks within the brokerage-type ISA, even if losses occur due to a decline in stock prices, loss offsetting is applied by deducting the loss amount from gains in other products, making it advantageous from a tax-saving perspective compared to general stock accounts.

NH Investment & Securities offers three benefits not only to customers who open a brokerage-type ISA through Namuh during the event period but also to those who have already opened one. First, stock trading commissions for domestic listed stocks are free for one year after opening the brokerage-type ISA, and after one year, a lifetime preferential domestic stock brokerage commission benefit is provided. Second, 25 people will be selected by lottery to receive famous brand products worth 2 to 4 million KRW (such as Chanel). Lastly, anyone who purchases at least one share of an Exchange-Traded Fund (ETF) within the brokerage-type ISA will receive 10,000 KRW, and if they transfer from another company or make a net deposit into their account, they will receive up to 100,000 KRW depending on the amount (△30,000 KRW for 3 million KRW or more △50,000 KRW for 10 million KRW or more △100,000 KRW for 20 million KRW or more).

These benefits require event application and marketing consent, and payments will be made through a lottery by the end of January next year after the event ends.

Kim Doo-heon, Head of Digital Sales Division at NH Investment & Securities, said, “We hope customers prepare to cope with the capital gains tax on stock transfers introduced from 2023 and enjoy tax-saving benefits without worrying about domestic stock trading commissions in the Namuh brokerage-type ISA,” adding, “We will continue to provide various benefits to help increase our customers’ assets.”

This content was produced with the assistance of AI translation services.